Tag Archive for: inflation

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Americans Save More In HSAs, Fidelity Reports HSA Assets Exceed $16 Billion

HSAs can help people cover healthcare costs and avoid other harmful financial decisions while enjoying tax breaks. While some employers offer HSAs as part of their benefits options, consumers can also open these through most banks or investment management firms.

New Wage Growth Will Influence Fed’s Interest Rate Decisions

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On Tuesday, Jan. 31st, the Bureau of Labor Statistics released the monthly employment cost index summary. Although employment cost growth is slowing, it’s likely not doing so fast enough for the Fed. CLICK ON THE HEADLINE FOR MORE

New Retirement Account Rules Make It Easier To Tap Savings Early For Emergencies

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President Joe Biden is poised to sign a $1.7 trillion bill that amends rules related to so-called hardship distributions from 401(k) plans. The measures are tucked into “Secure 2.0,” a collection of retirement reforms attached to the overall legislative package, which will fund the federal government for the rest of the fiscal year through next September. CLICK ON THE HEADLINE FOR MORE

Social Security Administration Making Substantial COLA Increase In 2023, But Is It Enough For Retirees?

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The COLA Social Security 8.7% adjustment for 2023 is the highest increase in decades. But some still worry that it may not be enough. While the increase is historic and needed, it is also inadequate for millions of older Americans who face skyrocketing housing and health care costs across the country. CLICK ON THE HEADLINE FOR MORE

IRS Tax Bracket 2023: How Will Inflation Affect Refunds?

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While the government is expected to announce 2023 tax brackets in November, it has to be noted that the figures will be based on the monthly average of Consumer Price Index changes for the latest fiscal year, which is between October 2021 and September 2022. CLICK ON THE HEADLINE FOR MORE

The Fed Could Keep Lifting Rates Sharply ‘For Some Time’

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A stark message was just delivered by Federal Reserve Chair Jerome Powell: "The Fed will likely impose more large interest rate hikes in coming months." He also warned more explicitly than he has in the past that the Fed’s continued tightening of credit will cause pain for many households and businesses. CLICK ON THE HEADLINE FOR MORE